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Increasing Waste Generation Drives Growth In Electric Waste Collection Truck Market: Key Factor Driving The Growth In The Electric Waste Collection Trucks Market
Electric Waste Collection Trucks
What Is the Expected Electric Waste Collection Trucks Market Size During the Forecast Period?
The electric waste collection trucks market has grown exponentially in recent years. It is expected to increase from $0.21 billion in 2024 to $0.25 billion in 2025, achieving a CAGR of 20.8%. The past growth has been driven by rising environmental regulations, increasing fuel costs, rapid urbanization, the need to reduce emissions, and government incentives for green technology adoption.
The electric waste collection trucks market is expected to experience exponential growth in the coming years. It is projected to reach $0.52 billion by 2029, growing at a CAGR of 20.4%. Growth in this market is driven by the expansion of charging infrastructure, increased adoption of smart city initiatives, higher government funding for green initiatives, operational cost benefits of electric vehicles, and the ongoing growth of municipal and commercial waste management needs. Key trends during this period include the integration of autonomous driving technology, advancements in energy storage solutions, expansion of electric vehicle fleets, adoption of advanced waste sorting systems, and the development of faster and more efficient charging technologies.
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What Are the High-Growth Segments in the Electric Waste Collection Trucks Market?
The electric waste collection trucksmarket covered in this report is segmented -
1) By Type: Rear Loader Trucks, Side Loader Trucks, Front Loader Trucks, Automated Side Loader Trucks, Mini Electric Trucks, Hybrid Electric Trucks
2) By Loading Capacity: Less Than 500 Kg, 500 To 800 Kg, More Than 800 Kg
3) By End Use: Municipal Garbage, Industrial Garbage, Other End Uses
Subsegments:
1) By Rear Loader Trucks: Standard Rear Loader Trucks, Compaction Rear Loader Trucks, Customizable Rear Loader Trucks
2) By Side Loader Trucks: Automated Side Loader Trucks, Manual Side Loader Trucks, Dual-Stream Side Loader Trucks
3) By Front Loader Trucks: Standard Front Loader Trucks, Heavy-Duty Front Loader Trucks, Multi-Purpose Front Loader Trucks
4) By Automated Side Loader Trucks: Fully Automated Side Loaders, Semi-Automated Side Loaders, Advanced Navigation Automated Side Loaders
5) By Mini Electric Trucks: Compact Mini Trucks, Medium-Sized Mini Trucks, Specialized Mini Trucks for Urban Areas
6) By Hybrid Electric Trucks: Parallel Hybrid Trucks, Series Hybrid Trucks, Plug-in Hybrid Trucks
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What Key Drivers Are Expected to Influence Future Electric Waste Collection Trucks Market Growth?
The rising waste generation is expected to drive the growth of the electric waste collection truck market. Waste generation is increasing due to urbanization, the growing use of disposable products, and rapid technological advancements, leading to more electronic waste. Electric waste collection trucks offer a sustainable solution to managing this increase in waste by reducing emissions, noise, and operating costs. The United Nations Environment Programme (UNEP) reported in February 2024 that municipal solid waste is projected to grow from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. As waste generation continues to rise, the demand for electric waste collection trucks is expected to increase, providing a more eco-friendly and cost-efficient solution for urban waste management.
Which Companies Hold the Largest Share Across Different Electric Waste Collection Trucks Market Segments?
Major companies operating in the electric waste collection trucks market are Ford Motor Company, Hyundai Motor Company, Tesla Inc., BYD Company Limited, Volvo Trucks Corporation, PACCAR Inc., Isuzu Motors Limited, Scania AB, Iveco S.p.A., Hino Motors Ltd., MAN Truck & Bus SE, Navistar International Corporation, Rivian Automotive Inc., Mack Trucks Inc., E-One Inc., Transpower Inc., Proterra Inc., Dennis Eagle Ltd., Mercedes-Benz Group AG, Lion Electric Co., Greesinknorba B.V., Eicher Trucks and Buses Limited, Curbtender Inc., Bollinger Motors Inc., Wrightspeed Inc.
What Trends Are Expected to Dominate the Electric Waste Collection Trucks Market in the Next 5 Years?
In the electric waste collection truck market, companies are developing all-electric commercial waste collection vehicles to enhance operational efficiency and reduce emissions. For instance, in November 2023, Grundon Waste Management Ltd., a UK-based waste management company, launched the UK's first all-electric waste collection vehicle in Reading and Newbury. The vehicles are powered by electricity generated from the waste they collect, supporting sustainable operation. Grundon is also exploring alternative fuels like hydrogen and hydrotreated vegetable oil (HVO) to further reduce environmental impact and improve urban air quality.
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What Are the Emerging Geographies for The Electric Waste Collection Trucks Market Growth?
North America was the largest region in the electric waste collection trucks market in 2024. The regions covered in the electric waste collection trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Waste Collection Trucks Market?
2. What is the CAGR expected in the Electric Waste Collection Trucks Market?
3. What Are the Key Innovations Transforming the Electric Waste Collection Trucks Industry?
4. Which Region Is Leading the Electric Waste Collection Trucks Market?
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